by Lamudi PH
Cagayan de Oro continues to gain prominence as an investment center not just in Northern Mindanao, but also in the Philippines, thanks to its flourishing real estate industry
While most are waiting with great anticipation on how the new administration of Rodrigo Duterte will promote inclusive economic growth by way of a decentralized system of governance, the process of decentralization has actually already been occurring in sectors like the real estate industry.
The buying and renting market for apartments, houses, office spaces, etc. in the capital have always been popular. However, areas outside Metro Manila are beginning to gain investments due to their economic potential where, while initially limited to local players, national developers have begun investing in these areas on a growing scale. Returns have become quite favorable in these areas, one of which is Cagayan de Oro (CDO), which is considered the regional center and business hub of Northern Mindanao.
A number of new real estate developments are set to rise or are already in the works CDO, furthering its place as one of the most progressive and competitive cities in the Philippines, some of which we list below.
Brown Company Inc. (ABCI), a diversified holding company with offices in CDO, announced back in 2015 that is would put an increased focus on middle-income housing and socialized housing projects to help address the national supply backlog in these sectors. Among these economic housing projects currently in development are in CDO.
St. Therese Subdivision
Located in CDO’s Balulang area, St. Therese Subdivision is a 1.6720-hectare project that will feature 155 residential lots, 91 of which will be row houses, and 38 units designated as single detached residences.
Situated in Ventura Lane of Xavier Estates, ABCI’s pioneering high-end residential subdivision, Ventura Residences is Phase 5A of the development offering residential lot cuts starting at 110 square meters.
Mountain View Homes
Found in Taguanao, Mountain View Homes is a socialized housing development that offers more than the basics, with a majestic mountain view and an exclusivity not typical of similar communities.
Ayala Land Inc. also has its fair share of upcoming projects in Cagayan de Oro, two of are notably middle-income developments.
A project by Amaia Land Corp., the affordable residential arm of Ayala Land, Amaia Scapes looks to provide offer affordable and well-designed homes, with the first phase of the project featuring as many as 97 residential units situated on 2.64 hectares of real estate located along Macapagal Drive in CDO’s Barangay Bulua.
Having broken ground at the latter of 2015, BellaVita Cagayan de Oro is the first project of Ayala Land subsidiary BellaVita Land Corp. in the city. Breaking ground at the end of August 2015, BellaVita CDo is designed to be a clustered neighborhood and integrated community, and will feature three residential sizes/variants, which will include a 1-year workmanship warranty.
Corporate and Residential Condos and Apartments
While many condos and apartments can be had in Metro Manila, CDO is not one without its share high-rise towers. Whether for residential or commercial or office use, the rise of new towers in CDO is evidence investors continued belief in the city’s potential.
Avida Towers Aspira
Avida Towers Aspira is a project by Cagayan De Oro Gateway Corp., a joint partnership between Ayala Land, and the Antonio Floirendo Group of Companies (Anflo Group). Homes that are situated at a safe and advantageous location, the towers are masterfully planned and designed to suit the evolving market of CDO, and is reportedly set for completion by June 2018.
Avida Tower Centrio
Scheduled for earlier completion is Avida Tower Centrio, another residential tower by Cagayan De Oro Gateway Corp. It is conveniently located in Centrio, a 3.7-hectare mixed-use development by Ayala Land in partnership with the Anflo Group. The tower is almost complete, with turnover to follow very soon.
The Bria Flats Cagayan de Oro
A new condominium complex located in Brgy. Kauswagan, The Bria Flats CDO is a new residential project by Bria, who are considered an emerging key player in economic housing. Breaking ground last June, Bria Flats in CDO will be seven building clusters, homes of which are of close proximity to government, business and commercial hubs like CDO’s Limketkai Center.
The first condominium project in CDO by developer Cebu Landmasters, Mesaverte Residences is composed of three 15-storey towers with prime location at the city’s main commercial business district. The turnover of its units is scheduled for the first quarter of 2018.
An Asian-Balinese-inspired master-planned community of mid-rise residential buildings, One Oasis is a development of great luxury and convenience. It is situated close to neighboring prime commercial centers in the city, on a 2.7-hectare lot, and features one and two-bedroom luxury units, several of which have already been turned over to owners early this year.
Formally breaking ground last July, the Tuscania Towers will soon rise along St. Ignatius Street in the Kauswagan area. A project of the Milares Estate Corp., it will be an Italian-style mid-rise condominium complex, featuring three towers with 12 stories each.
A project by Italpinas Development Corp. (IDC), Primavera City is the green builder’s follow-up to its acclaimed Primavera Residences. Last March, IDC announced it had completed partial payment for land it will use for the seven-building mixed-use condominium development project, which is located at Block 20, Lot 1 of the Pueblo de Oro Business Park.
The first of two 25-storey towers is now rising at Limketkai Center. It is the first high-rise project in Mindanao by Vista Residences, the vertical marketing arm of Villar-owned Vista Land. Each tower is composed of 500 typical units. The North Tower is targeted for completion in 2018.
New Retail Centers
With continued progress comes new opportunities, which includes business and retail. Typical of fast urbanizing locales, CDO is seeing its fair share of new retail centers on the rise. Some are designed to complement new residential complexes, while others are to make business and education centers more comprehensive.
SM CDO2 Premier
Now rising on the site of the old Coca-Cola plant along CM Recto Avenue corner President Osmeña Street, SM CDO2 Premier will be the second SM mall developed in CDO.
CityMall Bulua and CityMall Iponan
Community mall chain CityMall, a subsidiary of Double Dragon Properties, Inc., presently has two retail centers set to rise in CDO. These are CityMall Bulua, situated right across Westbound Public Market and Terminal in Bulua, and CityMall Iponan, a retail center located along CDO’s National Highway.
While gaining ground as a highly urbanized city, CDO separates itself from the Philippines’ other metropolises by being one that is also conducive for suburban living. The hilly landscape is ideal for building quiet communities, which is a major draw for those who prefer living that is comparably more laidback than that of within a major city.
Camella Cerritos CDO
A middle-income horizontal development by Vista Land subsidiary Camella, Cerritos CDO is a master-planned house and lot community featuring lush landscaping, tree lined avenues, and Italian-inspired homes. Conveniently cradled in the quiet Barangay Canitoan area of CDO, Cerritos features various homes priced from Php1.4 to Php7 million.
The Enclave at Pueblo Golf
Recently launched by the Pueblo de Oro Development Corporation, The Enclave is 2.2-hectare low-density neighborhood that will be composed of 40 two-story townhouse units and nine ridge lots, and located within the Golf Estates, which is part of the Pueblo de Oro Township.
A project by Johndorf Ventures Corp., Montierra is a 600-home, sprawling townhouse community designed for the middle-class market. The gated community will boast of a 12-meter wide main road and a commercial area where homeowners can shop conveniently.